No matter your individual circumstances, 2017 is a new year with numerous opportunities for your property position. Whether you are a renter, buyer or hoping to invest in 2017, find the best strategy below:
Evaluate your position
The rental climate is moving quickly thanks to increased supply driven by property development. Consider whether your area, or neighbouring areas, is proving better value for your hard-earned dollars amongst the rentals available
Treating your rental property in the same manner you would a house you own may provide more options in the future. Use 2017 to make a great impression by consistently paying rent on time and keeping up the appearance of the dwelling and yards.
If you plan to leave your current residence, or ask for changes to your current tenancy agreement, get everything in order in advance. Knowing your rental agreement terms and notice periods will position you to make your move at the most appropriate time.
Get Your Finances in Order
Even if you do not intend to buy a property in the short-term, understanding your financial position and borrowing capacity will streamline options when the right time comes.
Begin researching your potential options as soon as possible to help clarify what you may be able to purchase and for what price. Understanding stamp duty, settlement terms and conditions, and any other applicable fees, such as conveyance, are important to establish well before you make your first offer
Get in Front of the Crowd
Many buyers aren’t aware of the importance of utilising the services of people most familiar with the property market. Buyer advocates have typically been a service reserved for the most wealthy buyers, however their success has opened up more options for every purchaser. Buyer agents are skilled researchers and negotiators to make sure your property purchase would be acquired for less than you may have ben able to achieve yourself.
New Year, New Opportunities
Whether you are a veteran property investor, of are begining to consider buying your first investment property, 2017 should be the year you make the wisest decisions. Sometimes stepping out of your comfort zone will allow you to consider properties in areas you are unfamiliar, but have a positive rental yield or capital growth profile.
Watch Supply Changes
Recent years have demonstrated how economically charged the property markets are; however, 2017 will bring a new set of high-supply and high-demand areas. Regularly track the movements of the markets to make an informed choice.
Prepare for Tenancy
Once your property has been secured, it is important that a tenancy plan is in place quickly to capitalise on your returns. Professional property managers work with you to establish a strategic marketing plan and secure prospective tenants to ensure your property is vacant for as minimal time as possible upon settlement.
For an obligation-free conversation, contact Wise Realestate Advice on 1300 009 473 to discuss how their professional buyer advocates and property managers can support your property goals